住房价格区域分化:基于市场化进程的视角

Housing Prices Regional Differentiation:From the Perspective of Marketization Process

我国房价的区域分化已经成为一个不争的事实,诸多因素在推动这一现象的不断加剧。本文以我国除香港地区、澳门地区、台湾地区外的31个省级行政区为样本,识别了区域市场化程度与房价的因果关系,检验市场化程度在房价区域分化中所产生的实际影响,以及内在的逻辑机制。研究表明,市场化程度的提升对房价有显著的推动作用,这一推动作用在房价较高的地区更强,一定程度上解释了我国房价的区域分化现象的内在原因。其主要影响机制是,人口会因市场化程度高的地区拥有更好的制度环境而选择流入,进而增加这些地区的住房需求。进一步,本文还实证分析了市场化指数构成中各子维度对房价的影响效应,体现在要素市场的发育程度以及市场中介组织发育和法治环境的影响上。

The regional differentiation of housing prices in China has become an indisputable fact,and many factors are driving the phenomenon to intensify.This paper takes 31 provincial regions except Hong Kong,Macao and Taiwan as samples to identify the causal relationship between the degree of regional marketization and housing prices,and test the actual impact of the degree of marketization in the regional differentiation of housing prices,as well as the internal logical mechanism.The research shows that the improvement of the degree of marketization has a significant driving effect on housing prices,which is stronger in the regions with higher housing prices,and to some extent explains the internal reasons for the regional differentiation of housing prices in China.The main impact mechanism is that the population will choose to flow in due to the better institutional environment in areas with high degree of marketization,thus increasing the housing demand in these areas.Further,this paper also empirically analyzes the impact of each sub-dimension in the composition of the marketization index on the housing prices,and finds that the promotion of the degree of marketization on the housing prices is mainly reflected in the development of the factor market,the development of market intermediary organizations and the impact of the legal environment.